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ZoneOptions becomes the third regulated binary options broker in Cyprus.
As a follow-up to our recent article, in which we exclusively reported that CySEC had approved a third binary options broker by issuing a CIF license to Rodeler Limited, parent of ZoneOptions, comes word that CySEC has indeed added ZoneOptions to its list of regulated brokers.
The first two brokers to receive CySEC licensing are Banc de Binary and OptionWeb, both of which run on the industry-leading SpotOption platform. ZoneOptions runs on the TechFinancials platform. (Note that SpotOption itself has a CySEC license, allowing it to act as a ‘binary market maker’ for several of its broker clients).
Last year CySEC regulated binary options, breaking ranks with other European financial regulators — in most other EU countries, binaries are either not regulated or (as in the UK) fall under the auspices of gaming regulations. Japan’s JFSA is also in the process of finalizing binary regulations, and reopening that market, after quietly shutting down all Japan binary brokers and all binary trading activity last fall.
We expect more binary brokers to become licensed in Cyprus in the coming months, as that product category heats up as an alternative to ‘straight’ Forex and CFD trading. We’ll keep you posted…
ZoneOptions used Cyprus regulatory advisory firm Map S.Platis as its advisor in receiving its license.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.